Recorded September 14, 2011

90 minutes

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Overview

For a while, it seemed that the trend of power generators displacing coal with cheaper natural gas was simply that, a trend. But now, it's not just the small, old coal-fired plants that are being shuttered due to emissions policies and environmental concerns – 500-MW power plants are being closed as well. American Electric Power's announcement in June that it is retiring 6,000 MW of coal-fired power generation due to EPA regulations made this stark reality clear.

Nuclear reactors cannot be built fast enough to replace the baseload capacity coal provides – not to mention public anxiety over nuclear safety in the wake of Fukushima – leaving natural gas as the generation fuel of choice.

But many questions remain. Can utilities convert enough coal-fired plants to natural gas and build more gas-fired facilities to meet demand without driving up the cost of natural gas and utility rates? What are the potential capital cost implications for switching from coal to gas in a short period of time? Will the Obama Administration's September 2 announcement that it is withdrawing support for stricter clean air rules reduce the overall sense of urgency?

Join us for a timely discussion of the options and issues facing power companies today – and the implications for strategic planning going forward.

Agenda

Learning Objectives

Panelists

Jeffrey R. Holmstead – Partner, Bracewell & Giuliani LLP

Former Assistant Administrator of the U.S. Environmental Protection Agency (EPA)

Mr. Holmstead, former Assistant Administrator of the EPA for Air and Radiation, is one of the nation's leading air-quality lawyers and heads the Environmental Strategies Group (ESG) at Bracewell & Giuliani.

The ESG is a multi-disciplinary group that includes environmental and energy attorneys, public policy advocates, and strategic communications experts – most of whom have had high-level government experience. Under Mr. Holmstead's leadership, they work together on a daily basis to advise and defend companies and business groups confronting major environmental and energy-development challenges, both domestically and globally.

Mr. Holmstead received his J.D. from Yale Law School and a B.A. from Brigham Young University. Chambers USA: America's Leading Lawyers for Business, Climate Change, 2010-2011; Environment, 2008-2011. Best Lawyers in America, 2008-2010.

George W. Sharp – President, EUCG, Inc.

Mr. Sharp is President of EUCG, Inc., where he previously served as the organization's Vice President and Marketing Director prior to his election as President by its membership in the fall of 2010. EUCG, Inc. is a global association of energy and electric utility professionals that meet semiannually to discuss current and emerging industry issues, share best practices and exchange data for benchmarking purposes. The association is in its 37th year of service to the power generation industry.

Mr. Sharp also leads American Electric Power's Business Intelligence Organization where he is responsible for analyzing, monitoring, and communicating the value and risk associated with the company's power generation capital investment programs. In addition, he negotiates and administers contracts for new generation projects.

Prior to his current responsibilities, he was charged with a diverse set of planning and analysis functions for AEP, including the development and execution of business plans, incentive compensation programs, performance benchmarking, competitive business ventures and acquisitions, market research, and technology assessment. Mr. Sharp holds a Bachelors of Arts in English, a Masters Degree in Business Administration (MBA), and a Masters Degree in Corporate and Professional Communication – all from Radford University.

Tyson Slocum – Director, Energy Program at Public Citizen

Mr. Slocum joined Public Citizen's Energy Program in 2000 and is Director, promoting decentralized, sustainable energy and providing affordable clean energy solutions for working families. He works to highlight the significant financial costs and safety and security risks associated with nuclear power. Mr. Slocum covers the regulation of electricity, natural gas and petroleum markets, including commodity futures and FERC-jurisdictional matters to promote stronger transparency measures.

He was appointed to serve on the CFTC's newly created Energy & Environmental Markets Advisory Committee. He also covers federal legislative efforts to address climate change, particularly the impact such programs will have on the ability of moderate- and low-income households to afford access to sustainable energy.

Mr. Slocum has expertise on federal subsidies for the energy sector, and promotes refocusing such incentives away from the nuclear, oil and coal industries towards efficiency, renewable energy and mass transit. He is the author of numerous reports on these subjects, presenting his findings in testimony before the U.S. Congress. He appears regularly in radio, print, and television media, including guest appearances on The Colbert Report.

Prior to Public Citizen, Mr. Slocum was a policy analyst at the Institute on Taxation and Economic Policy, and received his B.A. from the University of Texas at Austin.

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